The group of seven (G-7) advanced economies secured a landmark deal on taxing multinational companies as per which the minimum global tax rate would be at least 15 percent. Why the change? Several critics argued that the global taxation system has allowed multinational organizations to save billions of dollars in tax bills by shifting jurisdictions. Further, they also indicated that several digital companies are making money in multiple countries and paying taxes only at home. Some of the multinational firms targeted include Facebook, Google, and Amazon. The organizations have been criticized for exploiting tax loopholes while reaping huge profits. Watch this video to learn more about the impact of tax reform on multinational companies.